Belex increases for the third week in a row, NIS reaches 720 RSD

The Serbian stock market has continued its growth for the third week in a row with increased investment activity. The Belex15 index added 1.5% to 878.5 points, while the total turnover amounted to RSD 223.0m (EUR 1.9m), recorded in stock trading, mostly.

The most active stock was the Petroleum Industry of Serbia (NIIS), with a turnover of RSD 114.6m and a price increase of 1.4% to RSD 720. NIS announced it would publish FY22 business results on February 21, which initiated increased investment activity on the stock. The company is expected to post a profit of up to EUR 700m, which would be its strongest result in its history.

Shares in Dunav Osiguranje (DNOS) broke the barrier of RSD 1,200 after a long time with a turnover of RSD 17.8m. The last time Dunav was at this level was in mid-October last year, followed by increased pressure on the selling side, which pushed the stock toward the psychological limit of RSD 1,000.

Preferred shares in Philip Morris (DINNPB) were again among the most traded stocks, with a turnover of RSD 4.7m and a slight increase to RSD 7,100. The shares in Metalac (MTLC) closed the week at RSD 1,639m with a turnover of RSD 1.7m.

Shares in Jedinstvo (JESV) fell by 3.8% to RSD 7,700, after the stock went ex-dividend at the end of December 2022. Impol Seval (IMPL) also suffered a drop of 1.9%, decreasing to RSD 5,300. The stock is up almost 10% in 2023 so far.